Updated on 10 May 2013
Singapore: US-based Oncobiologics has signed an alliance agreement with China-based Zhejiang Huahai Pharmaceutical for the development, manufacture and commercialization of biosimilar monoclonal antibody products.
The scope of the agreement includes exclusive commercialization by Huahai of four biosimilars developed by Oncobiologics and manufactured in China at a Huahai biologics facility for the China market.
The deal will also see establishment of a co-development and commercialization partnership for launching such biosimilars to more than 30 developed countries, including the US, EU, Japan, Canada and Australia. The partnership will seek local partners to drive commercialization in those 30 countries.
The four biosimilars are generic versions of Humira, Rituxan, Avastin, and Herceptin. These biologics are the most popular therapies in the world for their respective cancer and immune-disease indications, representing annual global revenue of more than $40 billion with more than $20 billion in the countries covered by this agreement. The partnership is planning to launch its first product by late 2016.
"This partnership is an important step toward introducing affordable, high-quality biotherapeutics to China. Huahai is thrilled to partner with Oncobiologics, which brings us excellent biologics development and manufacturing capability, and a deep knowledge of the scientific and quality requirements within the developed world," said VC, Zhejiang Huahai, and CEO, Huahai US, Mr Jun Du. "Through this partnership, we look forward to establishing a world class biologics operation in China while also participating in the very promising biosimilars market in the developed world."